Quang Binh attracts 14 investment projects in five months

The central coastal province of Quang Binh has attracted 14 investment projects with nearly VND3 trillion (US$129 million) in total capital into its industrial parks and economic zones so far this year.

quang binh attracts 14 investment projects in five months hinh 0
Xuyen Son Ho, part of the Phong Nha- Ke Bang UNESCO World Heritage in Quang Binh province
With the new comers, the aggregate number of investment projects in the province’s IPs and EZs to 105 with combined value of nearly VND50 trillion (US$2.15 billion). Among them there are five foreign invested projects worth a total more than US$30 million.

The province has increased investment promotion over the past time, organising several events both in and outside the country. 

The local authorities have built a data base on local advantages, potential and needs, and announced its extra support for investors besides those stipulated by law, such as help in procedures for investment and construction. 

The provincial administration constantly reviews administrative procedures with a view to improving services for investors and local competitiveness.  

During the past three years, IPs and EZs in Quang Binh generate an average industrial production value of VND3 trillion a year and earn nearly VND1.5 trillion in export value.  They also create jobs for 5,000 workers with average monthly income of VND5.2 million (US$223).

Quang Binh has approved a list of 48 projects calling for investment for the 2018-2020 period, with an expected amount of up to over VND50 trillion (US$2.2 billion).

The projects, projected to cover more than 8,000 ha of land, mainly focus on tourism, trade and services, industry, agriculture, education and health care.

Notably, 14 projects in tourism, trade and services are expected to appeal for over VND37 trillion in investment, including coastal and ecological tourism and resort complexes.  These are considered high-value projects that will create many jobs, increase local budget and foster tourism development in the province.

 In the field of industry, Quang Binh is calling for over VND8 trillion in five projects on wind and solar power, electrical and electronic production and assembly, telecommunication, lightening equipment manufacturing, and auto assembly.

Related news